Shell and Qatar Petroleum win two blocks at the offshore auction in the Argentine Sea • EconoJournal



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Oil companies Shell and Qatar Petroleum have conquered two exploratory blocks in deep waters, located in the Northern Basin of Argentina, in the round of bids of offshore areas that occurred today in the country.

"This round presents relevant opportunities for frontier exploration. Its long-term potential would allow us to develop a deepwater portfoliothus complementing our unconventional model in the Neuquen Basin, "he said. Andy Brown, Upstream Director of the Anglo-Dutch oil company. In addition, he added that "Shell is pleased to increase its presence in Argentina and to do so in the hands of its global strategic partner, Qatar Petroleum."

In a statement, the company said that "Shell focuses its exploration activities on the growth of core projects and emerging basins, which add competitive and durable options to your upstream portfolio"

The company has deepwater projects in production in Brazil, the US Gulf of Mexico, Nigeria and Malaysia. Exploration opportunities extend beyond the year 2025 and include Brazil, Mexico, the Gulf of Mexico, the offshore coasts in Mauritania, the West Black Sea. and now in Argentina.

Following the usual regulatory approval processes, Shell will have a 60% share in operating licenses and will be the operator. Qatar Petroleum will have the remaining 40%.

The blocks CAN 107 and CAN 109 are border exploration. They are located on the edge of the continental shelf and have a 8,341 km2 and 7,860 km2, respectively. They extend into areas of shallow and deep water from 200 to 2,500 meters deep. During the initial phase of exploration, new and quality seismic information will be obtained which will enable Shell and Qatar Petroleum to evaluate hydrocarbon formations.

"Shell has more than 100 years of history in Argentina and is committed to the development and competitive growth of its upstream business in the country in the coming years. It will continue to work with the Argentine government and contribute to the construction of a modern, efficient and sustainable energy future for the country, "the oil company said.

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